Security Agreement

Security Agreement

Date: _

BE IT ACKNOWLEDGED that:
____________________________________________
Name
____________________________________________
Address
____________________________________________
(Debtor) grants to _, and its successors and assigns (Secured
Party) a security interest in the following property
(collateral) as herein described:

_

This security interest is granted to secure payment and
performance on the following obligations owed Secured Party
from Debtor: (Describe obligation)

_

Debtor hereby acknowledges to Secured Party, each of the
following:

1. The collateral shall also include any after acquired
property of a like nature and description and all
appurtenances, proceeds or products thereto.

2. The collateral shall be kept at the Debtor’s above
address, and adequately insured at the request
of Secured Party.

3. The Debtor owns the collateral and it is free from any
other lien, encumbrance and security interest and the
Debtor has full authority to grant this security
interest.

4. Debtor agrees to execute such financing statements as
are reasonably required by Secured Party.

5. Upon default in payment or performance of any
obligation for which this security interest is
granted, or breach of any provision of this agreement,
then in such instance secured party may declare all
obligations immediately due and payable and shall have
all remedies of a secured party under the Uniform

Commercial Code.

Signed in duplicate:
________________________________
Debtor
_________________________________
Secured Party
Record this security agreement in appropriate filing office.

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